Kuala Lumpur has added another accolade to its achievements, securing the eighth spot globally and the third position in Asia for expatriates' preferred cities, according to InterNations' 2023 Expat City Ranking. The survey highlights Kuala Lumpur's distinction among 49 cities, trailing only Ras Al Khaimah and Abu Dhabi in Asia and featuring in the global top 10 alongside cities in the United Arab Emirates, Spain, and Mexico City.
The industrial sector is witnessing strong investments as Equinix Inc allocates US$140 million to construct two IBX data centers in Cyberjaya and Nusajaya, emphasizing Malaysia's significance in its global strategy. Concurrently, the NCT Group collaborates with Zhejiang Unity Technology to establish a semiconductor presence in the NCT Smart Industrial Park, aiming to foster innovation and create cross-border business opportunities.
In another development, Enovix Corporation's RM5.8 billion investment in Malaysia aligns with the country's New Industrial Master Plan 2030, while Google, TikTok, and Microsoft contribute significantly to Malaysia's digital infrastructure and economic development. Additionally, Widad Group secured a RM116.80 million contract for the construction of Tok Bali Industrial Park in Kelantan, further boosting the industrial sector's growth.
Meanwhile, UEM Sunrise Berhad's subsidiaries have signed eight Sale and Purchase Agreements (SPAs) with Paragon Globe Berhad's subsidiary, PGB Landmark Sdn Bhd, for the disposal of approximately 46.9 hectares of freehold lands in Johor, totaling RM146.1 million. This strategic move aligns with UEM Sunrise's plan to monetize non-strategic lands and undergo a balanced transformation in the real estate sector, focusing on residential development projects in Johor.
Other updates this week include the Tun Razak Exchange (TRX) tunnel opening on November 29, coinciding with the inauguration of The Exchange TRX mall and the TRX City Park rooftop, linking TRX to major roads and highways.
Additionally, EH Property Management opens sales for Tangen Residences in North Kiara, featuring 413 units with unique concepts and eco-friendly elements, which has achieved a 30% booking rate since the September soft launch. S P Setia announces the launch of Ferrous 2, the second phase of its affordable Ferrous double-storey terraced home collection, following the success of the initial phase in March, with over 700 registered interests.
For more updates on this week’s corporate announcements, please visit https://lnkd.in/gRTRsZN4
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